U.S. Department of Commerce, Consulate General of Japan in Houston, and industry partners join TOYO in Humble, Texas; Company shares plans for HJT cell line
TOKYO, Oct. 7, 2026 /PRNewswire/ -- On October 6, TOYO Co., Ltd (Nasdaq: TOYO) ("TOYO" or the "Company"), a solar manufacturer, held a ribbon-cutting ceremony at its solar module manufacturing facility in Humble, Texas, marking the completed expansion of the facility's module nameplate capacity to 2 GW.
The ceremony brought together government, community, and industry leaders, including Jeffrey I. Kessler, Under Secretary of Commerce for Industry and Security; Takeshi Koyama, Consul General of Japan in Houston; Congressman Christian D. Menefee; and Paul Wormser, Senior Vice President of CEA Intertek. Customers, partners, analysts, and investors also attended. The program included remarks, the ribbon-cutting, and tours of the factory floor.
Earlier in the day on October 6, TOYO hosted an Analyst Day, where management presented the Company's strategy and growth plans. TOYO also shared its plans for a heterojunction (HJT) cell line in Texas, which the Company expects to complete in the first quarter of 2028. A replay of the Analyst Day webcast is available at investors.toyo-solar.com.
"Toyo's announcement is the direct result of the Trump Administration's bold policies to bring manufacturing and jobs back to America. By investing hundreds of millions of dollars to expand its Texas factory, onshoring overseas production, and committing to use exclusively US polysilicon, Toyo is making an important contribution to America's manufacturing renaissance," said Jeffrey I. Kessler, Under Secretary of Commerce for Industry and Security.
"This investment is creating hundreds of skilled manufacturing jobs and valuable workforce development for families here in Texas — a brilliant example of how global innovation translates into real, tangible local prosperity and opportunity. This landmark project embodies the strength of the Japan–U.S. economic partnership, and Japan remains a committed long-term investor in the United States," said Takeshi Koyama, Consul General of Japan in Houston.
"At times in Washington it seems like we don't agree on much, but we agree that onshoring is of the utmost importance. Building jobs and production right here in the United States is crucial, and we get there through partnerships with allies doing the same work. I'm proud this investment is being made here in Houston's 18th Congressional District," said Congressman Christian D. Menefee.
"Our team conducts a rigorous, independent review of every element of a factory's operations — quality systems, processes, and risk controls. We check a thousand different things in twelve major areas. And in those twelve major areas, we have never found perfection, but Toyo has gotten our highest grade," said Paul Wormser, Senior Vice President of CEA Intertek.
"Completing our 2 GW module expansion in Texas is an important milestone for TOYO, and cell manufacturing with HJT technology is our next step," said Takahiko Onozuka, Chairman and Chief Executive Officer of TOYO. "We thank our employees, the Humble community, and our partners in the United States and Japan for their support."
About TOYO Co., Ltd.
TOYO is a solar manufacturing company committed to becoming a vertically integrated solar manufacturer provider in the global market, integrating upstream production of wafers and silicon, midstream production of solar cells, downstream production of photovoltaic modules, and potentially other stages of the solar power supply chain. TOYO is well-positioned to produce high-quality solar cells at a competitive scale and cost.
Forward-Looking Statements
Statements in this press release about future expectations, plans and prospects, as well as any other statements regarding matters that are not historical facts, may constitute "forward-looking statements" within the meaning of The Private Securities Litigation Reform Act of 1995. The words "anticipate," "look forward to," "believe," "continue," "could," "estimate," "expect," "intend," "may," "plan," "potential," "predict," "project," "should," "target," "will," "would" and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including factors discussed in the section entitled "Risk Factors" in TOYO's annual report on Form 20-F, as well as discussions of potential risks, uncertainties, and other important factors in TOYO's subsequent filings with the U.S. Securities and Exchange Commission. Any forward-looking statements contained in this press release speak only as of the date hereof. TOYO specifically disclaims any obligation to update any forward-looking statement, whether due to new information, future events, or otherwise. Readers should not rely upon the information on this page as current or accurate after its publication date.
Contact Information:
For TOYO Co., Ltd.
IR@toyo-solar.com
Crocker Coulson
Email: crocker.coulson@aumadvisors.com
Tel: (646) 652-7185
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TOYO Celebrates Completed 2 GW Module Expansion at Texas Facility with Ribbon-Cutting Ceremony
